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Leading processor and exporter of packaged basmati rice, Gurgaon-based LT Foods Limited having processing facilities in Haryana, Punjab and Madhya Pradesh has plans to diversify into staples like Wheat and snack market in aggressive way in next fiscal year. The company is setting up wheat flour mill in Bhopal and is likely to launch its product within six months.
Speaking to Business Standard, Vivek Chandra, CEO, Global Branded Business, LT Foods Limited said, “ We are evaluating opportunities in the untapped arenas of the food industry. Our success in marketing and distribution of the commodity is encouraging us to explore opportunities in other value added products. We are leading player and exporter of Packaged Basmati Rice and now we are venturing into staples market. We are setting up wheat flour mill in Bhopal with installed capacity of 3000 tonnes per month, which is likely to be operational within six months. Also recently, we have launched multi grain snacks in Delhi and NCR on pilot basis. Later on we have plans to launch the product in other parts of the country in aggressive manner. “
He added that the company is striving to emerge as an integrated player with strong capabilities in food processing sector coupled with equally strong backward and forward linkages.
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The company has forayed into ready-to-eat snacks segment with the launch of rice based roasted snacks. It is worth mentioning that the company has already embarked upon new products like Fast cooking Brown Rice, Rice cakes, Rice chips. The company has five state-of-the-art multi-location manufacturing units are strategically located in proximity to high consumption areas that provide cost advantage with easy and uninterrupted access to raw materials. The manufacturing facilities at Haryana (Bahalgarh, Kamaspur), Punjab (Varpal Amritsar), Madhya Pradesh (Bhopal) have a total rice milling capacity of 67 TPH (installed capacity - 408,000 MT). Kamaspur facility also handles organic rice milling operations, while the Bhopal facility caters to value-added food products business. Besides that the company has a modern packaging plant in Houston, US.
It is worth noting that the company’s flagship brand ‘Dawaat’, continues to expand and grow its strength across the Indian and International markets. LT Foods also boasts of a strong global network in more than 50 countries in major markets like USA, UK, Germany, France, Spain, Middle East, South Africa, Mauritius and Australia.
The company exports 60% of the total processed Basmati rice across the World. Much of LT’s revenue comes from exports, so the company is steadily expanding its business in geographies like the US, the Middle East, Singapore, Australia, USA, North America etc. and also eying new countries.
Headquartered in Gurgaon, LT Foods has employed around 900 professionals in India and abroad. With net sales of Rs.2300 Crore in FY’13, the company is eying a growth of 20-25% in the current fiscal year.
